Global Fiber Optic Connectors Market Size, Status And Forecast 2021-2030
MarketInsightsReports, one of the world’s prominent market research firms has released a new report on Fiber Optic Connectors Market. The report contains crucial insights on the market which will support the clients to make the right business decisions.
The global fiber optic connectors market is expected to grow from $4.20 billion in 2020 to $4.53 billion in 2021 at a compound annual growth rate (CAGR) of 7.68%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.02 billion in 2025 at a CAGR of 7.38%.
The Asia Pacific was the largest region in the fiber optic connectors market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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The research report is a compilation of key data with regards to the competitive landscape of this vertical and the multiple regions where the business has successfully established its position.
Top Companies in the Global Fiber Optic Connectors Market: 3M, Corning Cable Systems LLC, Hitachi Ltd., ZTE Corporation, Amphenol Corporation, Alcatel-Lucent S.A., Broadcom Limited, Hirose Electric Co. Ltd, Furukawa Electric Co. Ltd, and Sumitomo Electric Industries.
The high installation costs of fiber optic connectors have always been a major challenge in the fiber optic connectors market. The factors impacting fiber-optic internet installation prices are sufficient to power, service provider companies, telecommunication closets space. For instance, the installation cost of fiber optic cable installation would be $15,000 to $30,000 for a house with 100 to 200 drops. The high costs for the installation of fiber optic connectors are limiting the growth of the fiber optic connectors market.
In June 2018, Corning Inc., a US multinational technology company that specializes in advanced optics, primarily for industrial and scientific applications completed the acquisition of 3M’s communication market division for approximately $900 million. The acquisition will increase corning�s optical communications market access and increase its broad portfolio of high-bandwidth optical connectors, assemblies, hardware, and accessories for carrier networks, enterprise LAN, and data center solutions. The 3M Company is a USA multinational company serving in the fields of production, operator safety, US health care, and customer goods.
The number of people using smart devices and smartphones and commercialization of 4G LTE and 5G network platforms is rapidly increasing, which will drive the growth of the global fiber optic connectors market. For instance, in January 2020, the numbers of smartphone users in the world were 3.50 billion, accounting for 45.12% of the world�s population. According to the Global Mobile Suppliers Association (GSA), 5G subscriptions were 17.73 million by the end of 2019, and 4G base were at 5.27 billion. Smart devices are the everyday gadgets, which are made intelligent with advanced computing, including AI and machine learning, and networked to form the internet of things (IoT) that require the internet. The increased use of smart devices and commercialization of 4G LTE and 5G network platforms increased the demand for the fiber optic connectors market.
The innovation of 180-micron fiber cable is shaping the fiber optic connectors market. In April 2020, Prysmian Group announced the world�s first 180�m fiber cable for FTTx and 5G networks. Prysmian combines the two technologies to start its sirocco extreme microduct cable with 288 fibers in a diameter of 6.5mm, providing diameter and fiber density for a blown microduct cable of 288 fibers. With a fiber thickness of 8.7 fibers per mm2, it is possible to install the cable into an 8mm ID duct where before it was only possible to install up to 192 fibers. This makes it feasible to install more fibers into full duct space and allows the use of smaller ducts for new installations, rising in cheaper installation costs and the use of less raw materials.
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Influence of the Fiber Optic Connectors market report:
-Comprehensive assessment of all opportunities and risk in the Fiber Optic Connectors market.
-Fiber Optic Connectors market recent innovations and major events.
-Detailed study of business strategies for growth of the Fiber Optic Connectors market-leading players.
-Conclusive study about the growth plot of Fiber Optic Connectors market for forthcoming years.
-In-depth understanding of Fiber Optic Connectors market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Fiber Optic Connectors market.
Browse the report description and TOC: https://www.marketinsightsreports.com/reports/03242748176/fiber-optic-connectors-global-market-report-2021-covid-19-growth-and-change-including-1-by-product-sc-standard-connectors-lc-lucent-connectors-fc-ferrule-connector-st-straight-tip-mtp-mpo-multiple-fiber-push-on-pull-off-mxc-connector-others-2-by-cable-simplex-duplex-multi-fiber-3-by-application-telecommunication-inter-intra-building-community-antenna-television-datacenter-high-density-interconnection-security-systems-other-covering-3m-corning-cable-systems-llc-hitachi-ltd-zte-corporation-amphenol-corporation?mode=xix
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
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-Analytical Tools: The Global Fiber Optic Connectors Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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